Bitcoin rises to $63,251 as bulls return

The cryptocurrency market remained bullish on Friday, with the market capitalization gaining 3.2 percent to reach $2.46 trillion.
As of 1240 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, jumped to $63,251 with an increase of 2.9 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $1.245 trillion with this increase. Bitcoin has been 6.7 percent up in the past seven days.
Bitcoin traded above $63,000 amid high interest rates in the US and increased regulatory scrutiny against some players in the crypto industry. Despite these challenges, Bitcoin has surged by 127 percent in the last year. Its support stands at $62,300, with resistance at $63,700.
Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, gained 1.4 percent to reach $3,035. With this increase in price, the market capitalization of ETH has reached $364.6 billion. ETH has gained 1.8 percent of its value during the last seven days.
However, Binance Coin (BNB) price decreased by 0.4 percent to reach $596. The market capitalization of BNB has reached $91.7 billion with this decrease. BNB has gained 5.3 percent of its value during the last seven days.
Meanwhile, Solana price went up by 6.7 percent to reach $154. With this increase in price, its market capitalization has reached $69 billion. SOL has gained 12.4 percent of its value during the last seven days.
In the same way, the price of Ripple (XRP) inched up by 0.1 percent to reach $0.515. The market capitalization of XRP stands at $28.5 billion with this increase. XRP has shed 0.3 percent of its value during the last seven days.
Other popular altcoins including Dogecoin (DOGE), Cardano (ADA) and Litecoin (LTC) largely landed in the green. The Akash Network (AKT) token emerged as the biggest gainer of the lot, with a 24-hour jump of over 21 percent. Cosmos (ATOM) became the biggest loser, with a 24-hour dip of nearly 2 percent.